Trex (NYSE:TREX) Stock Rating Upgraded by StockNews.com

Trex (NYSE:TREX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also commented on TREX. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Benchmark dropped their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. DA Davidson decreased their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Bank of America cut their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.88.

Trex Price Performance

NYSE TREX opened at $69.15 on Thursday. The company has a market cap of $7.52 billion, a P/E ratio of 29.68, a P/E/G ratio of 2.25 and a beta of 1.50. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a 50-day moving average of $69.65 and a 200-day moving average of $81.56.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. During the same quarter last year, the firm posted $0.71 earnings per share. Trex’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Trex will post 2.03 EPS for the current year.

Institutional Trading of Trex

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Trex in the 4th quarter valued at about $113,613,000. TD Asset Management Inc boosted its stake in Trex by 516.8% in the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after acquiring an additional 1,341,419 shares during the period. Epoch Investment Partners Inc. grew its holdings in shares of Trex by 250.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock valued at $77,702,000 after purchasing an additional 670,665 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Trex by 19.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after purchasing an additional 660,536 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Trex in the 2nd quarter worth approximately $19,475,000. Institutional investors own 95.96% of the company’s stock.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.